Singapore's RSH confirms DBS advising Emaar on sale

SINGAPORE Feb 11 (Reuters) - Singapore retailer RSH Limited RSHL.SI said on Thursday that DBS Bank (DBSM.SI) is advising Emaar-led joint venture on the sale of a stake in the company, which was valued at $164 million, confirming a Reuters story.

Emaar, which previously had a 30 percent stake in RSH through a joint venture firm with India's MGF Group, had to increase its effective stake to 61.3 percent after it took control of the debt owed by the joint venture firm. The move came after the joint venture firm had defaulted on a loan. [ID:nSGE61904R] (Reporting by Harry Suhartono, editing by Saeed Azhar)